Revolution Bars warns on profits amid venue closures and cash crunch January 24, 2024 Revolution Bars has slashed its profit expectations for the year in the face of bar closures and cash strapped youngsters ditching night outs.
Quiz: Shares slump as clothing stays on the rack amid business review January 23, 2024 Shares in ailing fashion brand Quiz fell by nearly four per cent this morning as a depressed Christmas trading report failed to impress investors.
London Oxford Street spend slips as pressure mounts to scrap tourist tax January 23, 2024 Bosses behind Oxford Street are piling fresh pressure on the government to scrap the tourist tax after visitors failed to splash the cash over the Christmas period. Dee Corsi, who heads up the New West End Company, said footfall grew three per cent over the holiday season but customers kept their purses shut, with spending [...]
Marston’s: New pub boss says high costs are cooling after festive sales lift January 23, 2024 Pub chain Marston’s reported an eight per cent hike in sales in the four months to 20 January, as newly-appointed boss Justin Platt cheered a cooling to inflationary pressures. In a trading update, the historic boozer founded in 1834 said that for key festive days like-for -like sales leaped 9.6 per cent, and in the [...]
S4 Capital shares jump despite Sir Martin Sorrell’s firm warning on ‘client caution’ January 22, 2024 Digital marketing giant S4 Capital said it does not expect to see any macro economic improvements this year, as the firm trades in line with lowered expectations.
Watches of Switzerland: Shares crater 30 per cent as demand for luxury flattens January 18, 2024 Shares in Watches of Switzerland have fallen by over 30 per cent after the luxury watch maker warned on its earnings for the year. . In an update, the Rolex seller said that it was bruised by “challenging macroeconomic conditions” over Christmas which impacted consumer spending in luxury retail. It now expects revenue for the [...]
UK nightlife and hospitality ‘teetering on brink’ of collapse as government intervention urged January 17, 2024 The UK’s hospitality and nightlife sector is “teetering on the brink” of collapse, industry voices have warned, after a number of high profile closures have piled pressure on the government to provide more support. Less than a month into the new year, it has been reported that up to 43 hospitality venues across Britain face [...]
Mulberry blames tourist tax and slowdown in luxury demand for falling sales January 17, 2024 British fashion house Mulberry has blamed a slowdown in demand for luxury spending for a nine per cent decline in sales over the golden quarter.
TGI Fridays owner posts flat earnings as Christmas holidays boost revenue amid cost-cutting drive January 16, 2024 Owner of chain restaurant TGI Friday’s said revenues were flat during the second half of the year, amid a cost cutting drive for the group.
Houthi strikes: Drone and missile launch sites destroyed, Rishi Sunak tells MPs January 15, 2024 Drone and ballistic missile launch sites were destroyed in “carefully targeted” strikes by Britain and the US in Yemen last week, Rishi Sunak has told MPs.